Controlling Participant Initiated DRP/BSP Election Cancellation Process

Table of Contents


Controlling Participant Initiated DRP/BSP Election Cancellation Process Flow

Controlling Participant Initiated DRP/BSP Election Cancellation Process

StepDescriptionPartyRecipient/ObserverMessage ReferenceAPI Contract
1

The Controlling Participant populates the Corporate Action Election Cancellation with the following:

  1. Mandatory ISO 20022 elements defined in the Message Usage Guidelines;
  2. Optional ISO 20022 elements defined in the Message Usage Guidelines where applicable to the request; and
  3. Related ASX business values and rules applicable to the request.

The Controlling Participant sends a Corporate Action Election Cancellation to the CSP, initiating a DRP/BSP Election cancellation.

Controlling ParticipantCSP

Corporate Action Election Cancellation (evnt_745)

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2

The CSP validates the Corporate Action Election Cancellation against the schema and business validation rules.

If the Corporate Action Election Cancellation is schema and business valid, then refer to Step 3; "On Success".

If the Corporate Action Election Cancellation is not schema or business valid, then refer to Step 20; "On Fail".

CSP---
On Success
3The CSP requests acknowledgement from the Issuer (Registry).CSP---
4The CSP sends a Corporate Action Election Cancellation Status Advice (Pending) to the Controlling Participant, advising that their Corporate Action Election Cancellation has been accepted by the CSP and is pending acknowledgement from the Issuer (Registry).CSPControlling ParticipantCorporate Action Election Cancellation Status Advice (evnt_746)AssetServicing.DividendElection (DividendElection)
5The CSP sends a Corporate Action Election Cancellation to the Issuer (Registry), providing the DRP/BSP Election cancellation details that were submitted in the Corporate Action Election Cancellation sent by the Controlling Participant.CSPIssuer (Registry)Corporate Action Election Cancellation (evnt_745)

AssetServicing.DividendElection (DividendElection)


BMW.ExpectingReply (ExpectingReply)

6

The Issuer (Registry) determines whether they acknowledge the Controlling Participant DRP/BSP Election cancellation.

If the Issuer (Registry) acknowledges the DRP/BSP Election cancellation, refer to Step 7 "Acknowledgement".

If the Issuer (Registry) rejects the DRP/BSP Election cancellation, refer to Step 11 "Rejection".

If the Issuer (Registry) takes no action within one business day, refer to Step 16 "No Response".

Issuer (Registry)---
Acknowledgement
7

The Issuer (Registry) populates the Corporate Action Election Cancellation Status Advice (Acknowledged) with the following:

  1. Mandatory ISO 20022 elements defined in the Message Usage Guidelines;
  2. Optional ISO 20022 elements defined in the Message Usage Guidelines where applicable to the request; and
  3. Related ASX business values and rules applicable to the request.

The Issuer (Registry) sends a Corporate Action Election Cancellation Status Advice (Acknowledged) to the CSP, advising that they accept the Controlling Participant DRP/BSP Election cancellation.

Issuer (Registry)CSPCorporate Action Election Cancellation Status Advice (evnt_746)-
8

The CSP validates the Corporate Action Election Cancellation Status Advice (Acknowledged) against the schema and business validation rules.

If the Corporate Action Election Cancellation Status Advice (Acknowledged) is schema and business valid, then refer to Step 9; "Acknowledgement".

If the Corporate Action Election Cancellation Status Advice (Acknowledged) is not schema or business valid, then refer to Step 21; "On Fail".

CSP---
9The CSP sends a Corporate Action Election Cancellation Status Advice (Acknowledged) to the Controlling Participant, advising that their DRP/BSP Election cancellation was acknowledged by the Issuer (Registry).CSPControlling ParticipantCorporate Action Election Cancellation Status Advice (evnt_746)AssetServicing.DividendElection (DividendElection) [Archived]
10The CSP sends a Transaction Acknowledgement Advice to the Issuer (Registry), confirming receipt of their acknowledgement of the DRP/BSP Election cancellation.CSPIssuer (Registry)Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElection (DividendElection) [Archived]


BMW.ExpectingReply (ExpectingReply) [Archived]

Rejection
11

The Issuer (Registry) populates the Corporate Action Election Cancellation Status Advice (Rejected) with the following:

  1. Mandatory ISO 20022 elements defined in the Message Usage Guidelines;
  2. Optional ISO 20022 elements defined in the Message Usage Guidelines where applicable to the request; and
  3. Related ASX business values and rules applicable to the request.

The Issuer (Registry) sends a Corporate Action Election Cancellation Status Advice (Rejected) to the CSP, advising that they reject the Controlling Participant DRP/BSP Election cancellation.

Issuer (Registry)CSPCorporate Action Election Cancellation Status Advice (evnt_746)-
12

The CSP validates the Corporate Action Election Cancellation Status Advice (Rejected) against the schema and business validation rules.

If the Corporate Action Election Cancellation Status Advice (Rejected) is schema and business valid, then refer to Step 14; "Rejection".

If the Corporate Action Election Cancellation Status Advice (Rejected) is not schema or business valid, then refer to Step 22; "On Fail".

CSP---
13The CSP rejects the pending DRP/BSP Election cancellation.CSP---
14The CSP sends a Corporate Action Election Cancellation Status Advice (Rejected) to the Controlling Participant, advising that their DRP/BSP Election cancellation was rejected by the Issuer (Registry).CSPControlling ParticipantCorporate Action Election Cancellation Status Advice (evnt_746)AssetServicing.DividendElection (DividendElection) [Archived]
15The CSP sends a Transaction Acknowledgement Advice to the Issuer (Registry), confirming their DRP/BSP Election cancellation rejection.CSPIssuer (Registry)Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElection (DividendElection) [Archived]


BMW.ExpectingReply (ExpectingReply) [Archived]

No Response
16The End of Day process is triggered to perform ASX Housekeeping of pending DRP/BSP Election cancellation requests.CSP---
17The CSP performs cancellation of the DRP/BSP Election cancellations pending acknowledgement.CSP---
18The CSP sends a Corporate Action Election Cancellation Status Advice (Housekept) to the Controlling Participant, advising that their DRP/BSP Election cancellation was cancelled by ASX Housekeeping.CSPControlling ParticipantCorporate Action Election Cancellation Status Advice (evnt_746)AssetServicing.DividendElection (DividendElection) [Archived]
19The CSP sends a Corporate Action Election Cancellation Status Advice (Housekept) to the Issuer (Registry), advising that a DRP/BSP Election cancellation was cancelled by ASX Housekeeping.CSPIssuer (Registry)Corporate Action Election Cancellation Status Advice (evnt_746)

AssetServicing.DividendElection (DividendElection) [Archived]


BMW.ExpectingReply (ExpectingReply) [Archived]

On Fail
20

If the Corporate Action Election Cancellation fails schema or business validation, the CSP will send the Controlling Participant:

  • An invalid Transaction Notification with the relevant error code for schema failure; or
  • A rejected Transaction for business validation failure.
CSPControlling Participant

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

-
21

If the Corporate Action Election Cancellation Status Advice (Acknowledged) fails schema or business validation, the CSP will send the Issuer (Registry):

  • An invalid Transaction Notification with the relevant error code for schema failure; or
  • A rejected Transaction for business validation failure.
CSPIssuer (Registry)

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

-
22

If the Corporate Action Election Cancellation Status Advice (Rejected) fails schema or business validation, the CSP will send the Issuer (Registry):

  • An invalid Transaction Notification with the relevant error code for schema failure; or
  • A rejected Transaction for business validation failure.
CSPIssuer (Registry)

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

-

Business Values and Rules

Corporate Action Election Cancellation - Controlling Participant

The Controlling Participant sends a Corporate Action Election Cancellation to the CSP, initiating a DRP/BSP Election cancellation.

ASX Element NameISO 20022 ElementGuidelines
Transaction IdInstruction Identification / IdentificationThe unique identifier of the Corporate Action Election that is being cancelled. Further details of Transaction Identifications are detailed here.
Corporate Action Event IdCorporate Action Event IdentificationIdentifies a Corporate Action allocated by the ASX. In this case, the fixed value 'NONREF' must be populated.
Quantity CodeInstructed Quantity / Code / All Securities

Identifies the DRP/BSP Election applies to the entire eligible balance of the underlying securities (a full DRP/BSP Election). In this case, All Securities (QALL) must be populated.

Security CodeFinancial Instrument IdentificationIdentifies the security that is the target of the cancellation. Either a Security Code, an ISIN or both elements may be populated. Where both elements are present, the ISIN and Security Code must refer to the same security. Further details of Security Identification are detailed here.
Account Identifier (HIN)Safekeeping AccountIdentifies the Account (HIN) that owns the securities the subject of the DRP/BSP election that is being cancelled.
Option NumberOption Number / Code

Unsolicited (UNSO) must be populated.

Cancellation Request ReasonAdditional Details / Corporate Action Election Cancellation Reason

Identifies the reason for the DRP/BSP Election cancellation. In this case, the reason must be Investor Request (IREQ).

The below attribute identifies the Event Type <EvtTp>
Dividend with OptionsCode / Dividend OptionIdentifies the Corporate Action Election Cancellation is for a Dividend Option (DVOP).
The below attributes identify the Option Type <OptnTp>
CashCashIdentifies the DRP/BSP Election has consideration paid in Cash (CASH).
SecuritySecurityIdentifies the DRP/BSP Election has consideration paid in Securities (SECU).
Bonus Share PlanBonus Share PlanIdentifies the DRP/BSP Election is for a Bonus Share Plan (BSPL).

Corporate Action Election Cancellation Status Advice - Pending Acknowledgement, Acknowledgement, Rejection and Housekept

The CSP sends a Corporate Action Election Cancellation Status Advice to the Controlling Participant (and in the case of housekeeping, the Issuer (Registry) to:

  • advising that their Corporate Action Election Cancellation has been accepted by the CSP and is pending acknowledgement from the Issuer (Registry);
  • advising that their DRP/BSP Election cancellation was acknowledged by the Issuer (Registry);
  • advising that their DRP/BSP Election cancellation was rejected by the Issuer (Registry); or
  • advising that their DRP/BSP Election cancellation was cancelled by ASX Housekeeping.
ASX Element NameISO 20022 ElementGuidelines
Transaction IdInstruction Cancellation Request Identification / IdentificationIndicates the Transaction Id provided on the Corporate Action Election CancellationFurther details of Transaction Identifications are detailed here.
Corporate Action Event IdCorporate Action Event IdentificationIndicates the Corporate Action Id provided on the Corporate Action Election Cancellation. In this case, the fixed value 'NONREF' will be populated.
Security CodeFinancial Instrument IdentificationIndicates the Security Code provided on the Corporate Action Election Cancellation. Both Security Code and ISIN will always be present on the Corporate Action Election Cancellation Status Advice sent from the CSP. Further details of Security Identification are detailed here.
Option NumberOption Number / CodeUnsolicited (UNSO) will be present.
Cancellation Request ReasonAdditional Information / Additional Text

Indicates the reason for the DRP/BSP Election cancellation provided on the Corporate Action Election Cancellation.


The below attribute identifies the Event Type <EvtTp>
Dividend OptionCode / Dividend OptionIndicates the Corporate Action Election Cancellation is for a Dividend Option (DVOP).
The below attributes identify the Option Type <OptnTp>
CashCashIndicates the DRP/BSP Election has consideration paid in Cash (CASH).
SecuritySecurityIndicates the DRP/BSP Election has consideration paid in Securities (SECU).
Bonus Share PlanBonus Share PlanIndicates the DRP/BSP Election is for a Bonus Share Plan (BSPL).
The attributes in below section will be populated under Instruction Cancellation Request Status <InstrCxlReqSts>
Where the Corporate Action Election Cancellation Status Advice is indicating acceptance from the CSP, the below attribute will be sent under Pending Cancellation <PdgCxl>
Pending CancellationNot Specified Reason / No ReasonIndicates the Corporate Action Election Cancellation was Accepted by the CSP (NORE) and has been sent to the Issuer (Registry) for acknowledgement.
Where the Corporate Action Election Cancellation Status Advice is indicating acknowledgement from the Issuer (Registry), the below attribute will be sent under Proprietary Status <PrtrySts>
AcceptedProprietary Status / IdentificationIndicates that the Corporate Action Election Cancellation was Acknowledged Accepted (PACK).
Where the Corporate Action Election Cancellation Status Advice is indicating rejection from the Issuer (Registry), the below attribute will be sent under Rejected <Rjctd>
RejectedNo Specified Reason / No ReasonIndicates that the Corporate Action Election was Rejected (NORE) by the Issuer (Registry).
Where the Corporate Action Election Cancellation Status Advice is indicating housekeeping from the CSP, the below attribute will be sent under Cancellation Complete <CxlCmpltd>
Cancellation CompletedReason Code / Proprietary / IdentificationIndicates the Corporate Action Election Cancellation was housekept with the reason of ASX Initiated Housekeeping (HOUS).

Corporate Action Election Cancellation - CSP

The CSP sends a Corporate Action Election Cancellation to the Issuer (Registry), providing the DRP/BSP Election cancellation details that were submitted in Corporate Action Election Cancellation sent by the Controlling Participant.

ASX Element NameISO 20022 ElementGuidelines
Transaction IdInstruction Identification / IdentificationIndicates the Transaction Id provided on the Corporate Action Election Cancellation. Further details of Transaction Identifications are detailed here.
Corporate Action Event IdCorporate Action Event IdentificationIndicates a Corporate Action allocated by the ASX. In this case, the fixed value 'NONREF' will be populated.
Quantity CodeInstructed Quantity / Code / All Securities

Indicates the DRP/BSP Election applies to the entire eligible balance of the underlying securities (a full DRP/BSP Election). In this case, All Securities (QALL) will be present.


Security CodeFinancial Instrument IdentificationIndicates the Security Code provided on the Corporate Action Election Cancellation submitted by the Controlling Participant. Both Security Code and ISIN will always be present on the Corporate Action Election Cancellation sent from the CSP. Further details of Security Identification are detailed here.
Account Identifier (HIN)Safekeeping AccountIndicates the Account (HIN) that was provided on the Corporate Action Election Cancellation.
Option NumberOption Number / Code

Unsolicited (UNSO) will be present.

Cancellation Request ReasonAdditional Details / Corporate Action Election Cancellation Reason

Indicates the reason for the DRP/BSP Election cancellation. In this case, the reason will be Investor Request (IREQ).

The below attribute identifies the Event Type <EvtTp>
Dividend OptionCode / Dividend OptionIndicates the Corporate Action Election Cancellation is for a Dividend Option (DVOP).
The below attributes identify the Option Type <OptnTp>
CashCashIndicates the DRP/BSP Election has consideration paid in Cash (CASH).
SecuritySecurityIndicates the DRP/BSP Election has consideration paid in Securities (SECU).
Bonus Share PlanBonus Share PlanIndicates the DRP/BSP Election is for a Bonus Share Plan (BSPL).

Corporate Action Election Cancellation Status Advice - Issuer (Registry) Acknowledgement and Rejection

The Issuer (Registry) sends a Corporate Action Election Cancellation Status Advice to the CSP:

  • advising that they acknowledge the Controlling Participants' DRP/BSP Election cancellation; or
  • advising that they reject the Controlling Participants' DRP/BSP Election cancellation.
ASX Element NameISO 20022 ElementGuidelines
Transaction IdInstruction Identification / IdentificationIdentifies the Transaction Id provided on the Corporate Action Election CancellationFurther details of Transaction Identifications are detailed here.
Corporate Action Event IdCorporate Action Event IdentificationIdentifies the Corporate Action Event Id provided on the Corporate Action Election Cancellation. In this case, 'NONREF' must be present.
Security CodeFinancial Instrument IdentificationIdentifies the Security Code provided on the Corporate Action Election Cancellation.
Option NumberOption Number / CodeUnsolicited (UNSO) must be present.
Where the Corporate Action Election Cancellation Status Advice is indicating rejection, the below attribute must be populated
Cancellation Request ReasonAdditional Information / Additional Text

Identifies the reason for rejecting the DRP/BSP Election cancellation. Whilst the following list of reason codes are available, Issuers (Registries) are encouraged to use only:

  • Ineligible to Participate (PARX);

  • Zero Holding (NOHO);

  • Legal Entitlement (LEGL);

  • Plan Suspended or Inactive (SUSP); or

  • Other (OTHR).

The below attributes identity the Event Type <EvtTp>
Dividend with OptionsCode / Dividend OptionIdentifies the Corporate Action Election Cancellation is for a Dividend Option (DVOP).
The below attributes identify the Option Type <OptnTp>
CashCashIdentifies the DRP/BSP Election has consideration paid in Cash (CASH).
SecuritySecurityIdentifies the DRP/BSP Election has consideration paid in Securities (SECU).
Bonus Share PlanBonus Share Plan

Identifies the DRP/BSP Election is for a Bonus Share Plan (BSPL).

The attributes in below section must be populated under Instruction Cancellation Request Status <InstrCxlReqSts>
Where the Corporate Action Election Cancellation Status Advice is indicating acknowledgement, the below attribute must be sent under Proprietary Status <Accptd>
AcceptedNo Specified Reason / No ReasonIdentifies the DRP/BSP Election cancellation is being Accepted (NORE).
Where the Corporate Action Election Cancellation Status Advice is indicating rejection, the below attribute must be sent under Rejected <Rjctd>
RejectionNo Specified Reason / No Reason

Identifies the DRP/BSP Election cancellation is being Rejected (NORE).


Transaction Acknowledgement Advice

The CSP sends a Transaction Acknowledgement Advice to the Issuer (Registry):

  • acknowledging their acknowledgement of the Controlling Participant DRP/BSP Election cancellation; or
  • confirming their Controlling Participant DRP/BSP Election cancellation rejection.
ASX Element NameISO 20022 ElementGuidelines
Transaction IdRelated Reference / ReferenceIndicates the Transaction Id provided on the Corporate Action Election CancellationFurther details of Transaction Identifications are detailed here.
Status CodeStatus CodeIndicates the status of the Corporate Action Election Cancellation. In this case, Completed (COMP) will be present.




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